French Party: EU’s SPV Insufficient to Boost France Exports to Iran, Asked to Establish a Joint Bank

https://www.youtube.com/watch?v=0FAPAVi_7l4

• French Party: EU’s SPV Insufficient to Boost France Exports to Iran, Asked to Establish a Joint Bank
  by https://www.presstv.com/
  As the remaining signatories to the Iran nuclear deal are preparing to implement their financial initiative within the coming months to save the 2015 nuclear accord following the US unilateral withdrawal, a political party in France casts doubt on the overall efficiency of the mechanism calling on Paris to set up a joint bank with Iran to bypass the US sanctions.
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  The spokesman for the Debout La France Damien Lempereur described  the decision by the P4+1 group of countries to set up a ‘special-purpose vehicle’ (SPV) to bypass the US sanctions on Iran as ‘useful’ but said it is largely insufficient to boost France’s exports to countries under sanctions.
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  “We propose to create a bank without connection or interaction with the US to finance operations of French companies in Iran but also in all countries under sanctions, especially Russia,” Lempereur told Sputnik.
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  According to Lempereur, the bank could be established with France’s support before joining other European states to found a European financial institution dedicated to France’s exports and jobs.
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  Earlier, EU foreign policy chief Federica Mogherini said the bloc’s initiative to facilitate payment to/from Iran as part of efforts to save the deal could be in place before November, when the US is to re-impose the second batch of its anti-Iran sanctions.
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